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Watchdog withdraws price-fixing bicycle case


NotSoBigBen
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The competition commission today announced that their is No case of price fixing against SA retailers and wholesalers.

 

Bit quiet on this y'all huh?

 

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COMPETITION COMMISSION WITHDRAWS CYCLE INDUSTRY PRICE-FIXING COMPLAINT

Press Release: Friday 10 June 2011

The Competition Commission has sent notification that it has withdrawn its complaint against 28 retailers and wholesalers relating to alleged price-fixing in the South African bicycle industry.

 

Notification was sent in writing on Friday that the Competition Commission has withdrawn its “complaint referral dated 25 June 2010 in CT Case Number 32/CR/Jun10 against all respondents in this matter in terms of Rule 50 of the Rules for the conduct of proceedings in the Competition Tribunal”.

 

Andrew McLean, Director and founder of Cycle Lab, one of the retailers against which the complaint was made, confirmed on Friday that the complaint had been withdrawn.

 

“Yes, we received notification from the Competition Commission today. It’s not really a surprise and it just confirms what Cycle Lab and other retailers have stood by along. As far as Cycle Lab is concerned, there isn’t and has never been any attempt at collusion to fix prices in the South African cycle industry.

 

“Right from the beginning our attorneys examined this complaint and said there was no case to pursue. It’s just a pity it had to drag on so long and create an atmosphere of negativity. I would estimate this has cost the industry over R3 million in legal fees – just to prove that there was no case in the first place.

 

“This was a top story in the mainstream news media when the enquiry was launched, the day before the 2009 Cape Argus Pick n Pay Cycle Tour. Unfortunately this conclusion won’t even make headlines,” said McLean.

 

The Competition Commission first sent out notification to Cycle Lab and 27 other retailers and wholesalers in March 2009 that it had received a complaint alleging collusion and intent to adjust prices across the industry.

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The competition commission today announced that their is No case of price fixing against SA retailers and wholesalers.

 

Bit quiet on this y'all huh?

 

We are scared of the Moderators

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OMG !! And here we thought that we as HUB members are judge and jury . Shame a few people must be so disappointed by this , despite their best efforts to discredit certain people they failed .

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I dont think the currrent generation of hubbers even knows there was a price fixing scandal.

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There has been casuaties thou.....heard that one of the accused is battling to keep his head above water.

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And isn't that just sad . Put on the stake and found not guilty but the fire was lit anyway .

 

Can we see the Minutes of the ruling, or a link to a press release? So far it is only hear say.

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And isn't that just sad . Put on the stake and found not guilty but the fire was lit anyway .

Seems like that hammer fell in to the right hands.

 

 

http://blastr.com/assets_c/2011/05/ThorMjolnir050911-thumb-330x307-61994.jpg

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Seems like that hammer fell in to the right hands.

 

 

Obviously not yours. Judging by your avatar, you dropped it.

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Obviously not yours. Judging by your avatar, you dropped it.

Just taking a bit of a break.

 

http://blog.tylerbell.net/wp-content/uploads/2007/06/20070622_kitkat1.jpg

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I will still not buy from the two main players.

 

same here - for the last year I bought nothing from FPC or Cyclelab.... (since then I spend about R6000.00 on goods excluding my new frame of R20 000.00)

 

I am sure they don't give a flying duck, but at least I am happy!

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